Company
Information is very important part of anything that exist in the world but the correct information is the worthy part that actually plays a role in the success of the company. The correct information provided can only become the source of the right decision in the company. The case enables the reader to communicate the detailed description about the company and the shows the depth of the information. It tells that the All- Star Brands Medicine Groups is among one of the leading manufacturers of the packaged goods since 1924 and keep on expanding its network by acquiring or merging with the various small brands in the market. It gives the detailed overview about the company which shows it has three divisions including Consumer products, international and the pharmaceuticals. It also tells about the offering products of each division like the consumer products include detergent, laundry, bar soap and the shampoo. It is quite good that the company clearly tells about its global presence for which the international division is responsible for and also the leading brand of the group. The pharma division is engaged in the activities of marketing as well. The All- star Brand’s All- round is the market leader in Over the counter (OTC) cold and allergy remedy market. The company clearly tells about the profitability of the company through its leading brands and also the decline in the sales due to the tough competition. The group itself is concerned with the marketing activities and the decision of the brand and its extensions as well as the introductions of the new products. The marketing management group is responsible for the marketing activities. The depth of the information about the company is very important while taking the critical decisions of the company. All- star brand provides the information about the company and presents its overview in a clear manner but it should also present some more facts about the company and its pharma division as it the main focus and the subject matter of the case.
Surveys
The first and most important distinction that the surveys point out is the type of medicine Allround is perceived to be, and who are our target customer should be going forward. Allround is primarily a cold medicine and is perceived as a cold medicine. The target audience for Allround as cold medicine is young and mature families. The surveys suggest that Allround is rarely perceived as an effective medication for allergy symptoms. Allround is perceived as the number one medication for aches and cough among the target audience of young and mature families. The market penetration for families is 67%.
Although we have more overall satisfaction than all of our competitors in every category, we do not currently lead in any category within any demographic. Our brand awareness is excellent, with 82.3% of families being aware of Allround prior to making a purchase. 19% of the buyers that know about Allaround are actua.
CompanyInformation is very important part of anything that exist.docx
1. Company
Information is very important part of anything that exist in the
world but the correct information is the worthy part that
actually plays a role in the success of the company. The correct
information provided can only become the source of the right
decision in the company. The case enables the reader to
communicate the detailed description about the company and
the shows the depth of the information. It tells that the All- Star
Brands Medicine Groups is among one of the leading
manufacturers of the packaged goods since 1924 and keep on
expanding its network by acquiring or merging with the various
small brands in the market. It gives the detailed overview about
the company which shows it has three divisions including
Consumer products, international and the pharmaceuticals. It
also tells about the offering products of each division like the
consumer products include detergent, laundry, bar soap and the
shampoo. It is quite good that the company clearly tells about
its global presence for which the international division is
responsible for and also the leading brand of the group. The
pharma division is engaged in the activities of marketing as
well. The All- star Brand’s All- round is the market leader in
Over the counter (OTC) cold and allergy remedy market. The
company clearly tells about the profitability of the company
through its leading brands and also the decline in the sales due
to the tough competition. The group itself is concerned with the
marketing activities and the decision of the brand and its
extensions as well as the introductions of the new products. The
marketing management group is responsible for the marketing
activities. The depth of the information about the company is
very important while taking the critical decisions of the
company. All- star brand provides the information about the
company and presents its overview in a clear manner but it
should also present some more facts about the company and its
pharma division as it the main focus and the subject matter of
2. the case.
Surveys
The first and most important distinction that the surveys
point out is the type of medicine Allround is perceived to be,
and who are our target customer should be going forward.
Allround is primarily a cold medicine and is perceived as a
cold medicine. The target audience for Allround as cold
medicine is young and mature families. The surveys suggest
that Allround is rarely perceived as an effective medication for
allergy symptoms. Allround is perceived as the number one
medication for aches and cough among the target audience of
young and mature families. The market penetration for families
is 67%.
Although we have more overall satisfaction than all
of our competitors in every category, we do not currently lead
in any category within any demographic. Our brand awareness
is excellent, with 82.3% of families being aware of Allround
prior to making a purchase. 19% of the buyers that know about
Allaround are actually purchasing our product. The number of
buyers in our target customer group who intend to buy Allround
and follow through, have gone down for the last two periods.
At a $5.59 price point, the value to effectiveness ratio is rated
high in our target audience. The decision criteria for buyers
has product effectiveness coming as most important across the
board. The second most important factors for buyers are side
effects and price (they change places from 2nd to 3rd based on
the price point). The least import criteria seems to stay
consistent with form and duration being 4th and 5th
respectively.
The following are my recommendations after review of the
period 2 surveys:
· Narrow our focus to targeting families. Promote Allround
as a cold/cough medicine only
· Focus on improving our product satisfaction by
3. emphasizing effectiveness (advertising, trials, etc)
· Improve our overall brand perception by emphasizing
effectiveness for nasal/chest congestion, and runny nose.
Distribution Channel
Information gathered about distribution channels is very
important to the decision making of the company. Allround
uses both direct and indirect distribution channels. Using
reports such as the channel sales report, promotion report and
the economic outlook of the industry are some ways of
gathering information to make business decisions. Independent
studies or survey of retailers that was conducted will be very
useful information to impact the marketing strategy.
These market reports can be used to make many decisions
regarding distribution channels. A study was performed
regarding shelf product placement, which discovered that
Allround was not getting the best shelf space compared to its
market share. Four factors that retailers use to determine
product placement are: product turnover, promotional
allowances, sales force support, and co – op advertising
allowance.
I have a few recommendations to increase market share based
on the reports and surveys available. This will motivate the
channels to help promote the product line.
· Increase product shelf space that is eye level to the
customer and see about getting space for special displays.
· Increase sales force to include more merchandisers to
support rural retailers
· Increase trade promotions and consumer promotions
With the current direct and indirect distribution channels
Allround is set up for future product releases. It will help
ensure brand profitability by easily expanding products without
having to find new distribution channels.
Competition
Allstar Brands has four main competitors in the market who
4. have 9 other products that they sell in the market. Even though
the 9 products do not directly match up to the Allround, they
can easily sweep away customers that seek to treat similar
diseases. The competitors are Curall Pharmaceuticals that
provides Cough cure, B&B Health care that has Besthelp and
Believe as their products, Driscol Corporation that offers
products like the Dryup, Dripstop and Defogg and the Ethink
corporation that offers Effective, End and Extra. Allround is a
multi-symptom liquid that takes 4 hours but it competes with
other products in the market segments. These market segments
in which it competes are allergy, cough, cold and nasal. The
main competitors, especially in the cold category appears to be
Driscol Corporation which has a variety of products to sell in
the market and this gives it a competitive advantage. The only
weakness of Driscol is that all these products are only in one
category, in the cold category and thus the other categories are
left blank and the consumers cannot get full satisfaction. Cural
pharmaceuticals has an advantage because of its well-known
brand name and this makes more customers to prefer it with the
belief that it has more professional physicians. However, it has
only one product that cures cough and thus the other market
segments are left out, which leaves the customers unsatisfied.
Allstar Brands has an advantage because its product allround
covers all the four market segments and this means that the
consumers do get a full satisfaction from all the four ailments
unlike its competitors who only offer help for one or two of the
ailments. The only drawback is that Allround looks like
coughcare and this confuses most customers in the market.
End and Coughcare are the products that are
frequently purchased after the Allround and they also have a
high conversion ratio. This is because these competitors have
immersed themselves in brand awareness to the consumers
through numerous advertisements in all media forms including
the social networks. This has created a belief in customers that
the companies can offer professional help and thus seek help
from them. Therefore, Allround needs to differentiate itself
5. from the other products with the aim of separating itself from
the pack. One strategy would be to slightly reduce their prices
so that it does not have the same price as Coughcure and End
and this will make it even more affordable to the consumers.
Marketing
PharamSim may be a virtual Recreation project that makes us
those brand chief of a cold medicine organization called Allstar.
Our goal constantly in this part is to examine these
information’s in the cold drug. Furthermore, unfavorable
susceptibility showcase on request should actualize all the
caliber promoting blend and also settle on a proactive decision
with better the Allstar agency. The general objective should
bring those most elevated stock value from claiming every last
bit of contending organizations over 10 periods of the virtual
reproduction. I guided my activities at meeting the consumer’s
necessity and in addition keep a sensible cost with settle on
those stock costs. Concerning illustration secondary Concerning
illustration conceivable on complete my secondary stock cost
target. To start with choice concerning illustration right-hand
mark director Previously, PharmaSim might have been with
raise the number for representatives working with those Allstar
organizations. I brought up the number of workers working in
the deals energy will 500 everyone together: 350 in the regulate
deals energy and 150 workers in the backhanded deals energy.
This expense a considerable measure of the cash in light of
preparation projects to every last one of workers were
unreasonable also drawn out. This did not permit those deals
energy will make at first effective, making those assembling
bargains to period 0 drop from 21.55 percent should 20. 95
percent of time 1. Despite this might have been an intense
move, I took these steps a deals energy may be the soul of
shares of the organization which more assuming that Allstar
may be setting off should contend they need a greater amount of
these workers. My second choice to those Allstar mark might
have been I brought down those fabricate proposed.
6. Retail Price:
Increasing in the stock prices by the inflation rate that has
been dropped to 3.2%, gives the consumers more permissive to
spend also to gain brand exposures, and attracting shareholders.
Retail Price, MSRP, on Allstar four-hour multi symptom liquid
medicine called Allround ranging from 25% - 40% not including
the promotional allowances. Moreover, volume discount for
2500. Price is critical because it is what is the value of the
product for the benefits that it serves to the consumers from the
trade off study done on the product. In general, Allround did not
have financial issues because of the effectiveness, and high
recognition, and the loyalty have allowed it to maintain a price
leadership in the market. The MSRP for the product was
overpriced, which is a one of the most import criteria in the
buying process for customers. As result, I decided to lower the
price from $5.29 to $5.27. Although lowering price lost Allstar
profit, not all bad came from the decision. Customer satisfaction
grew 1.2% from Period 0-1 showing that a lower price might
lose profit, but gain better customer retention because of their
satisfaction. On the lines of advertising and promotion I made
some changes as well. I decreased the company advertising to
17 million dollars to free up some money for the company in
order to hire the sales force in this period. On promotion side, I
cut the customer promotion to $0 and the trade promotion to
$2.7 million because Allround is an established brand and
promotions weren’t benefiting it too drastically. This aided the
budget I had for the period because it helped from going over
budget to be perfectly even.
Report of Psychological
Assessment.doc
7. by Janine Vereen
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Green Team Preliminary Marketing Plan – Mohammad, Ibrahim,
Sara, Stacey, Dianna
Allround Preliminary Marketing Plan
1. IDENTIFY THE 5C’s SITUATION ANALYSIS
a. Company: Goals, metrics, strengths/weaknesses
Goals:
Metrics
Strengths
Weaknesses
1. Allstar stock price
+10% per yr
Brand, share, inelastic pricing, category growth
Mktg. budget allocation, portfolio
2. Allstar cum net income
+10% per yr
Brand, share, price
Portfolio, sales
3. Allstar annual net income
$74M
Brand, share, price
Sales, shelf space
4. Allround Market share
41%
Category growth, inelastic pricing, brand awareness
Budget, sales coverage, R&D capacity
5. Allstar capacity utilization
93%
Category growth, brand, 1-product, formula opportunity
10. Alcohol formula, budget, growing portfolio
6. Allround shelf space rank
1 – retail
MSRP advantage, brand awareness
Budget constraints, sales coverage
b. Customers: Customer needs, benefits sought, trends
Underlying Needs
Benefits Sought
Trends
1. Aches
1. Pain Relief
1. 60.6%
2. Nasal Congestion
2. Decongestion
2. 50.8%
3. Cough
3. Cough Relief
3. 62.1%
c. Competitors: Primary competitors and their anticipated
strategies; how Allround will defend their strategies
Competition
Primary Competitor’s Anticipated Strategy
Allround
Defensive Plan
Primary competition
1. Besthelp
Push
11. More brand recognition through social media.
2. Extra
Push
Promote Allround as cough suppressant
3. Dryup
Pull – New Product
Emphasize the benefits of liquid
Secondary competition
Pull – New Product
Increase product line
1. CoughCure
2. End
Push
Promote brand through social media channels
3. Effective
Push
Same as above
d. Collaborators: Which distribution channels or professionals
will you collaborate with and how will you motivate them?
Collaborators
Why
Motivation
1. Wholesale Stores
They sell in bulk and will place large orders
Trade Allowances
2. Grocery store
Very convenient and easy availability
Trade Allowances
3. Drug Stores
Where people think to go when they sick
Trade Allowances
4. Gas station stores and corner quick marts
12. Convenient
Trade Allowances
5. Doctor offices
Promote doctor on our social media
Promote doctors on our social media channels
e. Context: Environmental factors that could affect your
marketing plan
Economy
Price Inflation
Industry Growth
Market Issues
· Down
· Down
· Stand still
· Less money
· Growth
· Growth
· More products
· More aggressive
·
·
·
·
·
·
·
·
2. CREATE YOUR PRODUCT MARKETING STRATEGY
a. Segmentation: Consumer segments available in PharmaSim
13. Illness Segments:
Segment Opportunities:
Segment Threats:
Cold
Gel Tabs
BestHelp
Cough
Add Expectorant
CoughCure
Allergy
Developing opportunity (new product)
Believe
Nasal
Develop 12-hour formula
DripStop
Demographic Segments:
Segment Opportunities:
Segment Threats:
Young family
High Market Segment
No children medicines
Young single
Promote as multi-symptom med.
Price point
Mature family
High Market Segment
Retired
Promote as safe and effective
Price point
Empty Nesters
Promote as safe and effective
Low Market Share
14. b. Targeting: Segments you will target and why
Target Segments:
Why:
1. Families needing Cold Symptom relief
High brand recognition with this demographic. Loyal customer
base.
2. Adults needing cold symptom relief
To capture the adults needing cold symptom relief market
3.
4.
c. Positioning: The value proposition you will promote by target
market and the implications to the 4P’s
Target:
Value Proposition:
4P Implications:
Families
Relief from symptoms of the common cold
#1 brand, Easy to find and get, frequent promotions
Adults with cold Symptoms
Same
Same
3. CREATE YOUR PRELIMINARY MARKETING PLAN
a. Product: Allround product formulation decision; decision
advantages
15. Product Formulations
Advantages
Liquid 4 hour
Easy to take, can adjust the dose because it’s liquid
Drop alcohol
For age use
b. Price: Price sensitivity and purchase decision drivers by
segment; Allround’s selected competitive pricing position
(high/med/low) and Allround profit margin goal (5%, 10%,
15%)
Target Price Sensitivity
Decision Driver
Competitive Price Position
Profit Margin Goal
5.25
Low market share
Low
5 %
5.49
Product not high or low market share
Medium
10 %
5.99
High market share
High
15 %
c. Promotion: Use a push or pull strategy? Message focus; ad
agency selection, advertising budget allocation
16. Promotion Strategy
Message
Agency
Budget Allocation
push
One Product for all your Cold Symptoms
20
d. Place: Highest priority distribution channels and what drives
self-space allocation in each channel
Priority Channels
Self-Space Drivers
1. Drugstore
POS display, Coop advertising
2. Wholesale Stores
POS display, coop advertising
3. Doctor office
Promotional allowances/ trial size samples
4. Grocery store
POS display, Coop advertising
5. Gas station/Convenient stores
POS display, merchandisers